According to Global Jet Capital’s recently released business jet market forecast, which contains insights and projections for the business aviation market through 2027, there will be continued growth in the business jet market for the new five years.

In the report, Global Jet Capital projected $195 billion in total business aviation transaction volume for both new and pre-owned transactions between 2023 and 2027 with a compound annual growth rate of 3.1%.

“As expected, we have seen a leveling off from the unprecedented demand that our industry experienced post-pandemic, but looking ahead, we see a steady growth pattern for both new and pre-owned aircraft. Most OEMs have strong backlogs and should see improvements in supply chain challenges that limited deliveries in 2022 and so far in 2023. Pre-owned transactions continue to return to rates more in line with historical trends and are expected to pick up in 2024 and beyond to reflect increasing demand from new aircraft models,” Andrew Farrant, chief marketing officer of Global Jet Capital, said.

In the report, Global Jet Capital forecasted that deliveries of all size categories will increase between 2023 and 2027, but the company noted that heavy long-range jet demand should increase at faster rates than other sizes as demand favors more international travel. North America is expected to remain the largest business jet market over the next five years, with Europe remaining the second largest market. Latin America is also forecasted to continue its important pre-owned market interest, according to the report.

Global Jet Capital’s report is based on outputs generated by the company’s proprietary transaction forecast model.